AI Stock Market Roundup w/c 9th of December

Each week I review the biggest movements within the AI stock market from last week and let you know what key market trends to look out for in the coming week, to keep you updated and ahead of the curve.

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Broader Market Update

The Nasdaq tech index continued to outperform the S&P 500 this week, reaching fresh all time-highs. The seasonal "Santa Rally" seems to be in full swing again this year with Bitcoin consolidating around the $100,000 area and tech stocks continuing to show strong momentum. In other news, Tesla has been on fire since Trump was elected. Investors have drove price past the November 2021 previous all time-high.

Main AI Stock Market Movers

Ticker: AAPL | Price: $248.13 | Market Cap: $3.75T | Weekly Gain: 2.70% ⬆️

Apple had another impressive week of trading breaking to new all-time highs (again) continuing the strong momentum that has been seen since the last week of November. Apple is pulling ahead in the race to become the first company to be valued at $4T. Their strategy to implement AI has been a game-changer, allowing the company to stick to their core business while evolving with the latest trends in the industry. Morgan Stanley have reiterated their $273 price target citing the strong product line-up and core business model that is predicted to continue to grow in 2025.

Ticker: NVDA | Price: $134.25 | Market Cap: $3.29T | Weekly Loss: 5.64% ⬇️

Nvidia had a tough week of trading as investors continue to take profits on the stock that is up over 100% in 2024 alone. Price revisited the $130 support area again on Friday and buyers stepped in at this reliable level. Buyers have defended this level on four occasions now, which is a great sign of strength for the stock overall, especially considering the returns it has posted in 2024. Furthermore, Nvidia is set to benefit from increasing demand for modular data centres fuelled by AI. Forecasts estimate between 50-60 of these new data centres are currently being built.

Ticker: MSFT | Price: $447.27 | Market Cap: $3.33T | Weekly Gain: 0.87% ⬆️

Microsoft continued to rally this week as it over took Nvidia in market capitalisation. Microsoft has been a stable bet for investors to gain AI exposure this year and is proving to be a good bet being up over 20% this year. However, it is not all good news for the stock. Microsoft will record an $800 million impairment charge tied to its minority investment in General Motor's now-scrapped robotaxi program, Cruise. The tech giant expects to incur the charge, which is estimated to ding earnings by about 9 cents a share, during its second fiscal quarter, it said in a regulatory filing Wednesday.

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What To Watch This Week

Look out for interest rate release on Wednesday @ 2pm EST. A cut of 0.25% is anticipated.

Watch out for continued strength in the market. Will the seasonal Christmas rally continue?

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